Amkor Technology (NASDAQ:AMKR) Reaches New 12-Month High – Here’s Why

Amkor Technology, Inc. (NASDAQ:AMKR) shares hit a new 52-week high on Friday . The stock traded as high as $80.21 and last traded at $81.2860, with a volume of 1616653 shares traded. The stock had previously closed at $76.15.

Wall Street Analysts Forecast Growth

AMKR has been the topic of several research reports. Zacks Research cut shares of Amkor Technology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Wall Street Zen cut shares of Amkor Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Morgan Stanley boosted their price objective on shares of Amkor Technology from $45.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group boosted their price objective on shares of Amkor Technology from $43.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Finally, B. Riley Financial boosted their price objective on shares of Amkor Technology from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Amkor Technology currently has a consensus rating of “Hold” and a consensus price target of $67.38.

Amkor Technology Trading Up 8.0%

The stock’s fifty day moving average price is $67.24 and its 200 day moving average price is $53.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 1.74. The stock has a market capitalization of $20.39 billion, a P/E ratio of 47.04 and a beta of 2.25.

Amkor Technology (NASDAQ:AMKR) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. Amkor Technology had a net margin of 6.17% and a return on equity of 9.88%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. Research analysts forecast that Amkor Technology, Inc. will post 2.08 earnings per share for the current year.

Amkor Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Wednesday, June 3rd will be paid a $0.0835 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $0.33 dividend on an annualized basis and a yield of 0.4%. Amkor Technology’s dividend payout ratio is 18.86%.

Insider Buying and Selling

In related news, CFO Megan Faust sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $70.30, for a total value of $70,300.00. Following the completion of the sale, the chief financial officer directly owned 132,138 shares of the company’s stock, valued at $9,289,301.40. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gil C. Tily sold 15,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the sale, the director directly owned 108,806 shares of the company’s stock, valued at approximately $8,410,703.80. This trade represents a 12.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,000 shares of company stock valued at $8,329,250 over the last quarter. 26.40% of the stock is owned by company insiders.

Institutional Trading of Amkor Technology

Several hedge funds have recently modified their holdings of the company. Bessemer Group Inc. lifted its position in shares of Amkor Technology by 12.5% during the first quarter. Bessemer Group Inc. now owns 1,216 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 135 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Amkor Technology by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,799 shares of the semiconductor company’s stock valued at $387,000 after buying an additional 202 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Amkor Technology by 0.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 36,221 shares of the semiconductor company’s stock valued at $1,430,000 after buying an additional 218 shares during the last quarter. Evolve Private Wealth LLC raised its position in shares of Amkor Technology by 3.0% in the 1st quarter. Evolve Private Wealth LLC now owns 7,615 shares of the semiconductor company’s stock valued at $343,000 after purchasing an additional 222 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Amkor Technology by 8.6% in the 1st quarter. Strs Ohio now owns 2,971 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 235 shares during the last quarter. 42.76% of the stock is owned by hedge funds and other institutional investors.

About Amkor Technology

Amkor Technology, Inc (NASDAQ:AMKR) is a leading provider of outsourced semiconductor packaging and test (OSAT) services, supporting integrated device manufacturers and semiconductor foundries worldwide. The company offers a broad range of advanced packaging solutions, including wafer bumping, flip chip, system-in-package and ball grid array technologies, designed to meet the performance, power and form-factor demands of applications across consumer electronics, automotive, communications and industrial markets.

In addition to packaging, Amkor delivers comprehensive test services such as wafer probing, final test, system-level test and digital, analog and mixed-signal testing, enabling customers to accelerate time-to-market and reduce total costs.